Common Sense Financial Podcast

High income professionals face a unique situation when it comes to their retirement. You have the dual challenge of having your money tied up in your investments and also looming tax burdens once you retire. Listen to the latest episode of the podcast to learn about a Specially Designed Life Insurance policy, also known as a life insurance retirement plan, and how it could be the wealth preservation tool you’ve been looking for. A high cash value life insurance policy can help facilitate tax-advantaged growth that standard retirement accounts may not be able to match. Many professionals spend a considerable amount of effort accumulating wealth for most of their life only to find themselves in a bind: their money is inaccessible with looming tax burdens. High Income professionals often face a dual tax burden where their current high income places them in a high tax bracket, reducing the net income they have available for investment. Meanwhile, the money you've diligently saved in your retirement plan will be subjected to potentially hefty taxes upon withdrawal later in life. Retirement accounts are great vehicles for long-term savings, but they lack flexibility, and you're penalized for early withdrawals leaving you without a readily available source of funds for unexpected opportunities or emergencies. For high income individuals grappling with these issues, a Specially Designed Life Insurance policy may be the answer. A Specially Designed Life Insurance (SDLI) policy utilizes a high cash value life insurance policy to facilitate tax-advantaged growth and offer flexibility that standard retirement accounts simply can't match. Cash value builds over time in the policy, growing in a tax-deferred basis mirroring the benefits of a retirement account, yet the cash value can be accessed at any time through a non-recognition policy loan. If properly managed, these policy loans have flexibility and are not required to be repaid during your lifetime and can be simply deducted from the death benefit or cash surrender value when the policy pays out. The SDLI strategy enables you to tap into your wealth when needed, providing the liquidity to seize investment opportunities or meet unexpected expenses. The policy loans do have an interest charged on them, but well-designed policies provide an opportunity to offset the interest. Not all life insurance policies offer the features necessary to execute the strategy effectively. It's a delicate balance that must be carefully managed and is best done with the help of a professional. This strategic tool offers several other key advantages for wealth management, asset protection and estate planning. In many jurisdictions, life insurance policies are protected from creditors providing a shield for your assets. Life insurance can also play a crucial role in balancing out an estate amongst surviving family members. A life insurance policy can also provide immediate liquidity to family members or business partners upon a death, ensuring the continuity of a business or farm without the need to sell off assets. Life insurance proceeds can also provide a tax free inheritance to your beneficiaries, helping to preserve your legacy. A common pushback against using life insurance as an accumulation vehicle is the perception that it is expensive and takes a long time to accumulate substantial cash values. This is because most common policies are focused on maximizing a death benefit instead of rapid cash value accumulation. While there is an undeniable cost associated with a special desire life insurance policy, it's crucial to consider this expense in contrast to the potential tax liabilities. Retirement account distributions are generally taxed as ordinary income. For a high income individual, this can be losing a substantial chunk of your retirement savings to taxes. In many cases, the cost of a Specially Designed Life Insurance policy could be a mere fraction of what the tax liabilities may be on an investment growth over time. The true cost of these policies become apparent only when considering the full financial picture, including current and future tax burdens, access to cash and long-term wealth accumulation. A Specially Designed Life Insurance policy is not a catch-all solution but rather a tool within the context of a comprehensive wealth management plan.     Mentioned in this episode: BrianSkrobonja.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify BuildBanking.com     Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Any descriptions involving life insurance policies and its use as an alternative form of financing or risk management techniques are provided for illustration purposes only, will not apply in all situations, may not be fully indicative of any present or future investments, and may be changed at the discretion of the insurance carrier, General Partner and/or Manager and are not intended to reflect guarantees on securities performance. The term BUILD Banking™️, private banking alternatives or specially designed life insurance contracts (SDLIC) are not meant to insinuate that the issuer is creating a real bank for its clients or communicating that life insurance companies are the same as traditional banking institutions. This material is educational in nature and should not be deemed as a solicitation of any specific product or service. BUILD Banking™️ is offered by Skrobonja Insurance Services, LLC only and is not offered by Madison Avenue Securities, LLC. nor Skrobonja Wealth Management, LLC. Any references to protection, safety or guarantees, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. Skrobonja Insurance Services, LLC does not provide tax or legal advice. The opinions and views expressed here are for informational purposes only. Please consult with your tax and/or legal advisor for such guidance.

The concept of investing is often associated only with money and the pursuit of wealth, but this Annuities are a popular thing these days… why is that the case? And are they a valid option for those planning their retirement? In this new episode of the Common Sense Financial Podcast, host Brian Skrobonja explores the world of annuities – from what they are and the three types of annuities all the way to four common myths, Brian’s “unpopular opinion” and why annuities and investments aren’t in competition. Plus, Brian reveals what he considers the best way to accumulate wealth. You need to keep in mind that there are plenty of unknown factors in your life, such as how long you’re going to live, inflation, how the market is performing, healthcare costs, and economic shifts. Brian believes that the uncertainty surrounding retirement is why annuities are so popular. Annuities are a way to transfer risk over to an insurance company and provide some sense of safety for the future, says Brian. According to Statista, the risk of running out of money is a real concern for many retirees, with an estimated $2.53 trillion of retirement assets held inside of annuities. Brian breaks down the three types of annuities – variable, fixed-indexed, and fixed-rate – and shares a common misconception about income benefits. In his own words, Brian has an “unpopular” stance: he’s a believer in the fact that whether or not someone should use an annuity depends on their situation. Brian touches upon when it makes sense for you to use an annuity and when it doesn’t. “Capital appreciation over time” is what Brian considers the best way to accumulate wealth. Brian explains that annuities and investments aren’t in competition, because they both have a place at different times in someone’s life, depending on their needs. Brian goes over four common annuity-related myths.     Mentioned in this episode: BrianSkrobonja.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify Statista.com Brian’s article: My 5-Minute Retirement Plan Brian’s article: The Financial Fiduciary Standard Explained Brian's article: What to Do With Cash in a Low Interest Rate Environment   Annuity guarantees rely on financial strength and claims-paying ability of issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by carrier. Annuities are not FDIC insured. Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in  place. Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or  lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the  issuing carrier. This is intended for informational purposes only. It is not intended to be used as the sole  basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Our firm is not permitted to offer, and no  statement made on this site shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and  opinions contained here in provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Brian Skrobonja is stated or implied. The awards, accolades and appearances are not representative of any one client’s experience and is not indicative of future performance. Each of these awards have set criteria for their nominations and eligibility requirements. “Best Wealth Managers” and “Future 50 Company” are annual surveys conducted by Small Business Monthly. The winner is chosen by an online vote of the general public and no specific criteria is utilized to determine the winner other than number of votes. Some voters may not be clients of Brian Skrobonja and Skrobonja Financial Group. These awards are not representative of any one client’s experience and is not indicative of future performance.

Brian Skrobonja talks about the real cost of college—and why most families are dangerously unprepared. Tune in to learn how to fund your child’s education without sacrificing your retirement. Expect to hear eye-opening numbers, smarter strategies than 529 plans, and a flexible approach that keeps you in control, no matter what path your child takes. Brian starts by explaining how to avoid being blindsided by college costs. Most parents assume they’ll have time until the first invoice shows up. And when it does, it doesn’t just hit your wallet—it hits your entire financial life. Understand why “college tuition” is just one part of the picture. The real cost includes everything else: housing, books, transit, lab fees, and incidentals. And those extras can add up to more than tuition itself. Brian explains how college costs can quietly destroy retirement plans. You want to help your child, but helping without a plan can wipe out decades of savings.  How to ensure college costs don’t catch you by surprise.  Learn why a 529 plan is helpful—but also restrictive. It only works if your child follows a specific path and goes to college.  Brian describes why flexibility should be a priority when planning for college. What if your child takes a gap year? What if they don’t go to college at all? You need a funding tool that moves with life—not against it. Why a 529 plan can hurt your financial aid eligibility. Every dollar in that account shows up on the FAFSA. And that could mean less aid, more loans, and more stress. How cash value life insurance creates breathing room. It doesn’t show up on aid forms, and you can use the money for anything—college or not. That kind of freedom changes how you plan. Brian explains how life insurance can do what college savings accounts can’t: tax-deferred growth, tax-free access, and zero usage restrictions.  Learn why not all life insurance is designed for this. Some policies are built for death benefits—not cash value. You need the right structure, the right funding, and the right guidance. How to plan for college without sabotaging your lifestyle. Tuition shouldn’t mean pausing your retirement or downsizing your life. According to Brian, smart planning means both futures can coexist. Understand the real power of liquidity in college planning. For Brian, savings are great. But if they’re locked up when the bills arrive, they’re just numbers on paper. Brian reveals why thinking in lump sums is the wrong mindset. College is a cash flow challenge, not just a savings goal. You don’t need $200K on day one—but you do need to know where every semester’s payment will come from.  Brian describes what real planning actually looks like. It’s not just picking an account—it’s designing a strategy. One that flexes, protects, and puts you in control, no matter what life throws your way.     Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com SkrobonjaWealth.com BUILDbanking.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify   References for this episode: https://capstonewealthpartners.com/11192015cash-flow-is-king/?utm_source=chatgpt.com https://research.collegeboard.org/media/pdf/Trends-in-College-Pricing-and-Student-Aid-2024-ADA.pdf?utm_source=chatgpt.com https://www.parents.com/parents-are-sacrificing-to-pay-for-college-11761247?utm_source=chatgpt.com https://moneywise.com/managing-money/debt/my-wife-and-i-are-well-off-but-we-told-our-daughter-21-we-couldnt-afford-to-pay-for-her-college-now-shes-graduated-with-90k-in-student-loans-and-a-chip-on-her-shoulder?utm_source=chatgpt.com https://www.benefitnews.com/news/citizens-parents-compromise-retirement-over-college-costs?utm_source=chatgpt.com https://crsreports.congress.gov/product/pdf/IN/IN12024     Alternative investments may be subject to less regulation than other types of pooled investment vehicles. Alternative Investments may impose significant fees, including incentive fees that are based upon a percentage of the realized and unrealized gains and an individual’s net returns may differ significantly from actual returns. Such fees may offset all or a significant portion of such Alternative Investment’s trading profits. Incorporating alternative investments into a portfolio presents the opportunity for significant losses including in some cases, losses which exceed the principal amount invested. Also, some alternative investments have experienced periods of extreme volatility and in general, are not suitable for all investors. Asset allocation and diversification strategies do not ensure profit or protect against loss in declining markets. ---- BUILD Banking™ is a DBA of Skrobonja Insurance Services, LLC. Benefits and guarantees are based on the claims paying ability of the insurance company. Not FDIC insured. Results may vary. Any descriptions involving life insurance policies and its use as an alternative form of financing or risk management techniques are provided for illustration purposes only, will not apply in all situations, may not be fully indicative of any present or future investments, and may be changed at the discretion of the insurance carrier, General Partner and/or Manager and are not intended to reflect guarantees on securities performance. The term BUILD Banking™, private banking alternatives or specially designed life insurance contracts (SDLIC) are not meant to insinuate that the issuer is creating a real bank for its clients or communicating that life insurance companies are the same as traditional banking institutions. This material is educational in nature and should not be deemed as a solicitation of any specific product or service. BUILD Banking™ is offered by Skrobonja Insurance Services, LLC only and is not offered by Madison Avenue Securities, LLC. nor Skrobonja Wealth Management, LLC. ---- This content is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC are not permitted to offer and no statement made during this presentation shall constitute tax or legal advice. Our firms are not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC.

In this episode, Brian Skrobonja breaks down ways to save, grow, and invest your money. He sheds light on what a well-diversified portfolio looks like, the true definition of financial freedom, and why you need different mindsets for spending versus investing money. We all want the same thing when it comes to money--we all desire to make money, grow money, and use the money that we have. However, most people have a belief system that is rooted strictly on growing money--which, on some level, makes sense. But this singular focus leaves out the idea of using money. Why is this important? Because how we grow money is not the same as how we spend money. Growing money and using money require different approaches and different ways of thinking. Brian reveals that many people spend money wrong. This is not about what people spend money on, but the source of the income being spent. If you earn a dollar and spend it, it's gone forever. If you earn a dollar and invest it for income, you potentially have income for life. Brian explains why it makes more sense to spend the money your investments earn versus spending the money you earn directly. Why is this important? If you want to grow your wealth over time, you should find ways to hang on to as much money as possible. What is the difference between making and growing money?  Brian breaks down a brilliant way to use other people’s money to access cash while your money continues to grow.  The definition of passive income and the benefits of making money with little to no effort.  Better ways to generate income other than the stock market. Brian explains why the stock market is great for growing money, but it’s not the best option for generating recurring income. Ideally, you want to position assets so you have a tax-free, passive income to live on. You need to have the ability to spend money with uninterrupted growth while simultaneously investing long-term. Financial freedom is defined by how much passive income you are generating.     Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com SkrobonjaWealth.com BUILDbanking.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify     Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Annuity guarantees rely on financial strength and claims-paying ability of issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by carrier. Annuities are not FDIC insured. Investments in securities are subject to investment risk, including possible loss of principal. Prices of securities may fluctuate from time to time and may even become valueless. Gas and oil investments are speculative in nature and are sold by Private Placement Memorandum (PPM). Carefully read the PPM before investing. Certain accreditation requirements may apply. Our firm does not offer tax or legal advice. Consult your tax or legal advisor regarding your situation.

The concept of investing is often associated only with money and the pursuit of wealth, but this fails to capture the true essence of investing. An ideal future isn’t encapsulated by a stack of $100 bills. The true essence of investing is not about building wealth, but about building the atmospheric conditions that align with your ideal future self. Listen to the latest episode of the podcast to learn why a relentless focus on accumulating wealth will end up costing you what you’re actually working for, and why you need to have a more encompassing vision for what your retirement can be beyond your portfolio. Your quality of life isn’t determined just by the number in your bank account. Those dollars are merely the resources you use to create the ideal life. Wealth extends beyond the mere accumulation of money. It’s about the life you can construct around it and the atmospheric conditions you can create for yourself. You can possess all the wealth in the world, but without the cornerstones of a healthy life like thriving relationships, health, purpose and meaning, the value of that wealth diminishes. We need to exercise caution in our perception of wealth and the significance we ascribe to money. Investing shouldn’t only mean contributing to your financial future but should be considered building towards your ideal future. Having a vision for your retirement that involves activities and people requires a keen understanding of what’s important. Brian had a client who embodied the rags to riches narrative that people in the West admire so much, but after years of diligently working toward accumulating his wealth, this client ended up sacrificing his health. Instead of traveling the world and enjoying the fruits of his labor, this client spent his golden years visiting doctors and hospitals. “Man sacrifices his health to make money, then he sacrifices his money to recuperate his health.” -Dalai Lama A healthy lifestyle lays the foundation for our capacity to live fully and pursue our ambitions actively. The importance of investing in health can not be overstated. Along with health, investing into your relationships is paramount. Relationships form an integral part of our support system. The rewards are not always monetary, but they are no less important, and investing time into relationships is crucial. Investing into a steady flow of income beyond just building a portfolio is another key component to enjoying your retirement. Growth is not income generating and growth is not the same as income. Retirement needs to be a time of shifting from a diversification of growth assets into a diversification of income producing assets. The true essence of investing is not about building wealth, but about building the atmospheric conditions that aligns with your ideal future self. That includes nurturing your health, cultivating meaningful relationships, ensuring a steady income, and fostering cognitive ability. Money is a tool to reach those goals, and not the goal itself. Retirement should be seen as a chapter in your life that is ripe with potential. True wealth is not just the abundance of money, but the presence of all the components that make life fulfilling.     Mentioned in this episode: BrianSkrobonja.com BuildBanking.com Previous episode - Make Health Planning Part of Your Retirement Planning, with Regan Archibald     Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in place. Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or  lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the  issuing carrier. This is intended for informational purposes only. It is not intended to be used as the sole  basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Our firm is not permitted to offer, and no  statement made on this site shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and  opinions contained here in provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Brian Skrobonja is stated or implied. The awards, accolades and appearances are not representative of any one client’s experience and is not indicative of future performance. Each of these awards have set criteria for their nominations and eligibility requirements. “Best Wealth Managers” and “Future 50 Company” are annual surveys conducted by Small Business Monthly. The winner is chosen by an online vote of the general public and no specific criteria is utilized to determine the winner other than number of votes. Some voters may not be clients of Brian Skrobonja and Skrobonja Financial Group. These awards are not representative of any one client’s experience and is not indicative of future performance.

Many people accumulate their wealth in a bank or a long-term investment, and this may create problems. But there is a different strategy. In this new episode of the Common Sense Financial Podcast, host Brian Skrobonja goes over the Build Banking strategy and how you can consider a different banking paradigm using specially designed life insurance policies that allow you to start banking on yourself. Most people know that banks use other people’s money to generate profits. This process is known as Fractional Reserve Banking, which is basically the bank using the spread between interest rates to profit. For banks, it goes a little deeper. Banks can loan out the money they have on deposit to people, and those dollars are then deposited again, which begins the cycle anew. This process acts as a money-printing machine within the economy. Banks aren’t currently required to hold any reserves to cover their customer’s deposits. The result of Fractional Reserve Banking is the expansion of the money supply which contributes to increased inflation. Silicon Valley Bank recently found itself in trouble and was unable to cover its liabilities leaving depositors to rely on the government to bail them out. It’s not realistic to be able to bypass the banking system entirely, but there are ways to take control of how you save and store money with a personal bank-like strategy. Build Banking uses a specially designed whole life insurance policy that’s built on the inherent tax-favored nature and unique capabilities of those policies. What makes Build Banking different is the design allows for rapid cash accumulation with uninterrupted tax-free growth, while having access to cash without having to rely on banks or Wall Street, but you have to set aside your preconceptions around life insurance. The challenge is the language around life insurance policies and how most people understand what they are capable of. With traditional banking, you either accumulate money and spend or borrow and then repay it. The Build Banking method offers a different strategy with a specially designed life insurance system that allows you to take back some of the control. Not all policies are the same and loan features can vary greatly, so it’s important to work with a professional with experience in this area. The main benefit of the Build Banking strategy is the ability to have your money remain in the policy and continue to grow uninterrupted, while simultaneously using a policy loan from the insurance company for personal use. A business owner has an extra advantage because they can leverage the loan in their business, creating both an internal and external return. This strategy also gives the policy owner a lot of control over how and when the loan is repaid because of the nature of the life insurance policy.      Mentioned in this episode: BrianSkrobonja.com BuildBanking.com     BUILD Banking™️ is a DBA of Skrobonja Insurance Services, LLC. Benefits and guarantees are based on the claims paying ability of the insurance company. Not FDIC insured. Results may vary. Any descriptions involving life insurance policies and its use as an alternative form of financing or risk management techniques are provided for illustration purposes only, will not apply in all situations, may not be fully indicative of any present or future investments, and may be changed at the discretion of the insurance carrier, General Partner and/or Manager and are not intended to reflect guarantees on securities performance. The term BUILD Banking™️, private banking alternatives or specially designed life insurance contracts (SDLIC) are not meant to insinuate that the issuer is creating a real bank for its clients or communicating that life insurance companies are the same as traditional banking institutions. This material is educational in nature and should not be deemed as a solicitation of any specific product or service. BUILD Banking™️ is offered by Skrobonja Insurance Services, LLC only and is not offered by Madison Avenue Securities, LLC. nor Skrobonja Wealth Management, LLC. Any references to protection, safety or guarantees, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. Skrobonja Insurance Services, LLC does not provide tax or legal advice. The opinions and views expressed here are for informational purposes only. Please consult with your tax and/or legal advisor for such guidance. Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in  place. Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or  lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the  issuing carrier. This is intended for informational purposes only. It is not intended to be used as the sole  basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Our firm is not permitted to offer, and no  statement made on this site shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and  opinions contained here in provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Brian Skrobonja is stated or implied. The awards, accolades and appearances are not representative of any one client’s experience and is not indicative of future performance. Each of these awards have set criteria for their nominations and eligibility requirements. “Best Wealth Managers” and “Future 50 Company” are annual surveys conducted by Small Business Monthly. The winner is chosen by an online vote of the general public and no specific criteria is utilized to determine the winner other than number of votes. Some voters may not be clients of Brian Skrobonja and Skrobonja Financial Group. These awards are not representative of any one client’s experience and is not indicative of future performance.

Brian Skrobonja talks about the essentials of building a multi-generational legacy that lasts. He breaks down a blueprint rooted in time-tested principles and inspired by the same structural thinking used by families like the Rockefellers. Tune in to hear the assumptions that leave heirs rudderless, the mistakes that breed entitlement, and why conventional financial tools often fail under the weight of multi-century ambitions. Whether you're building wealth or preparing to pass it on, this episode will challenge your thinking and equip you with a legacy framework designed to stand the test of time. Brian starts by reframing real financial success. It’s not just what you accumulate—but what you pass on. Without intentional legacy planning, families risk watching their values and vision fade after just one generation. Mindset 1—The absence of active legacy planning. Too many families assume wealth will transfer naturally from bank account to mindset. But without a clear plan, the next generation never learns—and that’s how legacies crumble. According to Brian, active legacy planning is not built on ticking a checkbox. You need a blueprint that makes everything else—governance, communication, liquidity—actually work.  Brian says, “In every family I’ve worked with, eventually the time comes and one question rises: What happens when we’re no longer here to steer the ship?” Most families don’t answer that until it’s too late. For Brian, legal paperwork alone won’t cut it. True generational planning requires a living, breathing roadmap that captures your values, evolves with your family, and keeps everyone aligned for decades. Brian highlights a dangerous myth: “Signing a will means we’re done and everything will be taken care of.” In reality, active planning means constant alignment, revisiting, revising, and re-engaging the whole family. Use Brian’s four-part legacy framework to build clarity and momentum. 1. Define your why—write down what your wealth is for. 2. Create a manifesto, explain it plain English, and make it accessible to all. 3. Invite the next generation—have low-pressure and honest conversations with the next generation. 4. Always revisit your plan—keep it alive, current, and reflective of your evolving world. Mindset 2—Scarcity thinking sabotages legacy. Fear of spending or deploying capital kills bold moves, breeds conservatism, and shrinks your family’s vision for impact. How to overcome a scarcity mindset. Audit your past decisions for fear-based choices. Then reframe with an abundance vision and build purpose-driven allocation buckets that multiply impact. Mindset 3—Secrecy and poor communication. Brian explains that when wealth conversations stay behind closed doors, heirs grow entitled, misinformed, or resentful.  Mindset 4—The next generation cannot learn wealth management through osmosis. Watching you isn’t enough. They need education.  Mindset 5—Lacking a unified multi-generational strategy. For Brian, a will or a trust isn’t enough. Without a cohesive blueprint, every generation is forced to reinvent the wheel, wasting time, money, and vision. Mindset 6—Weak governance weakens families. Brian highlights that good intentions and informal chats aren’t enough. You need clear roles, rules, and decision frameworks to keep wealth and relationships intact. Mindset 7—The over reliance on conventional tools. If your portfolio is all accounts and products, you’re missing the chance to create a private banking system that cushions volatility and funds opportunity. Brian highlights the need for flexibility. Have an inventory of tools, understand their limits, then build liquidity through mechanisms like build banking. This ensures your strategy stays stable, resilient, and future-ready. Mindset 8—Poor cash flow management crushes vision. Ambition means nothing if spending is unchecked. When families can’t see real-time cash flow, legacies stall—fast. Mindset 9—No legacy mindset. Often, the first generation builds wealth. Generation two spends it. Generation three starts over. That’s the cycle—unless you teach them the how and the why of wealth preservation early. Brian shares a way to stop entitlement. When you educate heirs about purpose—not just access to wealth—you shift the mindset from consumption to contribution. Mindset 10—No capital allocation plan. A legacy without funding is just a dream. Real impact requires dollars earmarked for growth, trust, and education initiatives from the start. Brian explains—It’s not about protecting wealth. It’s about activating it. Legacy is about empowering future generations to dream big, move boldly, and live true to your mission. Intentionality is the multiplier. The more proactive and clear your planning, the higher your family’s odds of sustained success—across decades, not just years. When your family is aligned, everything changes. Confusion gives way to confidence. Inherited wealth becomes a platform for innovation, service, and lasting impact.     Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com SkrobonjaWealth.com BUILDbanking.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify     Alternative investments may be subject to less regulation than other types of pooled investment vehicles. Alternative Investments may impose significant fees, including incentive fees that are based upon a percentage of the realized and unrealized gains and an individual’s net returns may differ significantly from actual returns. Such fees may offset all or a significant portion of such Alternative Investment’s trading profits. Incorporating alternative investments into a portfolio presents the opportunity for significant losses including in some cases, losses which exceed the principal amount invested. Also, some alternative investments have experienced periods of extreme volatility and in general, are not suitable for all investors. Asset allocation and diversification strategies do not ensure profit or protect against loss in declining markets. ---- BUILD Banking™ is a DBA of Skrobonja Insurance Services, LLC. Benefits and guarantees are based on the claims paying ability of the insurance company. Not FDIC insured. Results may vary. Any descriptions involving life insurance policies and its use as an alternative form of financing or risk management techniques are provided for illustration purposes only, will not apply in all situations, may not be fully indicative of any present or future investments, and may be changed at the discretion of the insurance carrier, General Partner and/or Manager and are not intended to reflect guarantees on securities performance. The term BUILD Banking™, private banking alternatives or specially designed life insurance contracts (SDLIC) are not meant to insinuate that the issuer is creating a real bank for its clients or communicating that life insurance companies are the same as traditional banking institutions. This material is educational in nature and should not be deemed as a solicitation of any specific product or service. BUILD Banking™ is offered by Skrobonja Insurance Services, LLC only and is not offered by Madison Avenue Securities, LLC. nor Skrobonja Wealth Management, LLC. ---- This content is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC are not permitted to offer and no statement made during this presentation shall constitute tax or legal advice. Our firms are not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC.

Time is your most precious resource, but how you use it is up to you. The shift from earning to retirement can be quite challenging, as you have to thread the needle between income, growth, and time. In this new episode of the Common Sense Financial Podcast, host Brian Skrobonja goes over the most important mindset shift people need to make in order for their retirement plan to succeed. It is possible to retire without growth, but it’s impossible to succeed without income. But many people have trouble shifting their mindset from focusing on long-term growth into a consistent and reliable income. When you invest long-term, that means not having to withdraw money from your assets for a long time. But once you enter retirement, your timeline moves from the future to the present. This transition requires a mindset shift to be made before significant progress can be made. Retirement planning is a discovery process that boils down to learning whether or not you have an income gap in retirement and, once that’s discovered, the whole plan is built around replacing that income. Without that number, everything else is a guessing game. If you shortcut this step with estimates, you will only compound the issue downstream. Retirement seems like a simple concept, but it’s surprisingly complex and solving the issue with old ways of thinking will lead you astray. Future performance of investments can’t be determined by looking at the past. An investment doesn’t address the risks you face in retirement. The sooner you figure out that investing is a spoke in a very large wheel, the sooner you can begin to formulate a true retirement roadmap. There are common components for retirement scenarios, like the income gap. There are also common risks that all retirement plans need to account for: sequence of return risk, market risk, interest rate risk, mortality risk, legislative risk, longevity risk, and health risk. All retirement plans should be built around the idea of protecting yourself and mitigating as much risk as you possibly can. Most people’s largest asset is their income, but it’s often not considered for insurance. Confirmation bias can hinder our ability to consider alternative perspectives and make the mindset shifts we need to make in retirement. People can find themselves endlessly searching for experts to tell them that they don’t need to change their strategy in retirement because of our natural need to confirm our beliefs. The more successful a person becomes, the more valuable their time becomes. To preserve those valuable hours, it becomes increasingly more important to surround yourself with professionals to whom you can delegate responsibilities to free up time. Insurance is just a form of delegation. You delegate your risk to the insurance company, which mitigates the risk and increases the quality of your time. Delegating the research and leveraging the experience of a professional in retirement planning can help you leverage your time with confidence.     Mentioned in this episode: BrianSkrobonja.com   Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in place. Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or  lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the  issuing carrier. This is intended for informational purposes only. It is not intended to be used as the sole  basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Our firm is not permitted to offer, and no  statement made on this site shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and  opinions contained here in provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Brian Skrobonja is stated or implied. The awards, accolades and appearances are not representative of any one client’s experience and is not indicative of future performance. Each of these awards have set criteria for their nominations and eligibility requirements. “Best Wealth Managers” and “Future 50 Company” are annual surveys conducted by Small Business Monthly. The winner is chosen by an online vote of the general public and no specific criteria is utilized to determine the winner other than number of votes. Some voters may not be clients of Brian Skrobonja and Skrobonja Financial Group. These awards are not representative of any one client’s experience and is not indicative of future performance.

In this episode, Brian Skrobonja sheds light on the complex and often overwhelming process of managing an estate after the loss of a loved one. This is a step-by-step guide from the initial steps you need to take after a loved one passes, to the intricate details of settling an estate. Brian offers valuable advice and practical tips to navigate this difficult time with grace and efficiency. Having a clearly defined process in place for managing an estate can help avoid the emotional drain of making important decisions through the loss of a loved one. Friends and family may wish well and provide advice on what to do, but without a proper plan in place, that can lead to more financial problems in the future. Setting expectations for yourself and the beneficiaries of the estate is a great first step to help minimize the confusion and questions around how long it will take to settle an estate. This process can take anywhere from two months to several years depending on the type of assets that are owned and the size and complexity of the estate. A funeral home director will often help obtain death certificates, which will be required before making any claims. It’s a good idea to request 10 to 12 original documents because, once submitted, you may not get them back. It's important to first locate the deceased’s will, trust, or other estate documents they have on file. If none of these exist, you could have difficulty settling a person's estate which will most likely require an attorney to assist you through the probate process. Check to determine if the person may have left a letter of instruction behind as well. A letter of instruction is not a legal document, but it's a letter that can provide more personal intentions and information regarding an estate. The next step is to begin gathering an itemized list of all known financial institutions where money is held and life insurance companies for filing a claim. It's a good idea to put the list together before jumping into making calls because you'll want to keep track of phone conversations and other instructions. Tip: A really good practice is to keep a journal or Excel spreadsheet of all the conversations to keep track of everything. You'll want to avoid writing on the back of envelopes or scrap pieces of paper as that can become really unmanageable. Checks made out to the deceased will require a bank account to deposit them. Avoid closing bank accounts too early because of this. You will have to notify Social Security that a death has occurred as well as any pension provider to have payments stopped and any eligible benefits paid to the estate. If your loved one served in the military, you may be eligible for veterans benefits. You can get more information about these benefits by visiting va.gov. Over the next one to three months, you will want to screen incoming mail, both physical and email, to look for and gather bills, statements, and notices relating to various types of accounts and insurance policies. You will want to review credit card statements to identify subscriptions or other recurring charges to follow up with the service providers about cancellation. Next, notify creditors and credit card companies that were a part of your loved ones credit history. You can notify the big three credit bureaus; Experian, Equifax, and TransUnion, of their passing, which can usually be done online over the phone or by letter. You will also want to locate where they filed important documents to find deeds, titles to real estate, car titles, or lease agreements as well as storage space keys and account records. Look for a computer file or printout with digital account passwords so you can disable any active social media accounts. If the person was still working, contact the human resources office at their place of work to inform them of what has happened, the HR officer may need you to fill out some paperwork pertaining to retirement plans, health benefits and compensation for unused vacation time. If your loved one owned a small business or professional practice, a discussion with business partners and clients may be necessary as well as consulting with the company attorney who has advised the business. If there was a child in college, it may be a good idea to contact the Financial Aid Office to inform them of what has happened. Depending on the school and the financial situation the surviving child may qualify for more assistance. Before rushing into this process, you should consider speaking with a financial advisor and attorney. There are so many areas where you can make expensive mistakes, working with a professional through this difficult time is usually the best decision.     Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify va.gov     Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA &SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS.   Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.   The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Investments in securities are subject to investment risk, including possible loss of principal. Prices of securities may fluctuate from time to time and may even become valueless. Gas and oil investments are speculative in nature and are sold by Private Placement Memorandum (PPM). Carefully read the PPM before investing. Certain accreditation requirements may apply. The appearances in Kiplinger were obtained through a PR program. The columnist is not affiliated with, nor endorsed by Kiplinger. Kiplinger did not compensate the columnist in any way. Our firm does not offer tax or legal advice. Consult your tax or legal advisor regarding your situation.

“The more money you have, the bigger the mistakes,” someone once told Brian… How does that translate into retirement planning? And how can you help ensure you approach your financial planning for your “golden years” in the best possible way? In this new episode of the Common Sense Financial Podcast, host Brian Skrobonja goes over five retirement mistakes that you should stay away from at all costs, as well as what retirement is actually about. Brian touches upon something that a very successful person told him when he was getting started with his business back in 1993: ‘The more money you have, the bigger the mistakes.’ With his desire to work hard and strong work ethic, Brian quickly became successful. But there was a problem with his approach – Brian opens up about that. Brian shares some of the retirement mistakes he has seen people make in his 30-year career. Having a distorted view of what wealth really is and having what Brian calls “vertical diversification” are two common mistakes Brian has seen over and over again in his career. There are many factors to consider when attempting to diversify. You shouldn’t believe that a bank account and a portfolio of public investments are all that’s available to you as you move your diversification horizontally. Brian points out a common practice to avoid: making an investment decision based on the tax deduction alone. When making decisions regarding how you save money, Brian suggests considering how you’ll ultimately use the money. Brian discusses why you shouldn’t have too much dependency on markets nor having complacency. Brian sees retirement as a balancing act between growing money for the future while drawing income for your retirement needs.   Mentioned in this episode: BrianSkrobonja.com   Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in  place. Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or  lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the  issuing carrier. This is intended for informational purposes only. It is not intended to be used as the sole  basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Our firm is not permitted to offer, and no  statement made on this site shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and  opinions contained here in provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Brian Skrobonja is stated or implied. The awards, accolades and appearances are not representative of any one client’s experience and is not indicative of future performance. Each of these awards have set criteria for their nominations and eligibility requirements. “Best Wealth Managers” and “Future 50 Company” are annual surveys conducted by Small Business Monthly. The winner is chosen by an online vote of the general public and no specific criteria is utilized to determine the winner other than number of votes. Some voters may not be clients of Brian Skrobonja and Skrobonja Financial Group. These awards are not representative of any one client’s experience and is not indicative of future performance.

Brian Skrobonja breaks down two retirement curveballs that most people don’t see coming until it’s too late. He covers how your Social Security decisions can make or break your retirement, and what really happens to your income when your spouse passes away. From the math behind claiming early versus waiting, to the hidden tax traps that arise when one spouse passes away, this episode walks you through the real-life scenarios that can make or break your retirement plan. Brian starts by introducing Joe and Jane, a blend of real-life clients whose story brings clarity on the right way to claim Social Security and what happens to your income when a spouse passes away. He highlights how to understand the impact of Social Security and the math behind what you keep and what you lose. Brian explains how Social Security isn’t just about retirement timing. It’s about your income, your long-term tax exposure, and your ability to stay financially independent.  You’ve worked your whole life to earn these benefits, you shouldn't allow the tax man to take more than necessary just because of bad timing or misinformation. Why is retirement planning so important? For married couples like Joe and Jane, the right decision on when to claim benefits can be a six-figure decision.  According to Brian, filing before full retirement age means you accept a permanent reduction in your benefit.  For example, if Joe starts drawing Social Security at 65 and Jane at 62, Joe's full retirement benefit is $3,000 a month, and Jane just $2,000 a month.  But since they’re drawing before their full retirement age, there’s a permanent reduction. Joe gets $2,600 a month and Jane gets $1,400 a month. That's $1,400 a month total. Multiply that across 25 years and you land at about 1.2 million in lifetime benefits. Brian walks through a smarter path—Joe waits until 70, Jane until 67. With this strategy, Joe’s benefit increases substantially thanks to delayed credits, while Jane locks in her full amount. The result is $5,720 per month and a total retirement income that’s $172,000 higher than the early-filing option. If they both wait until age 70, their monthly income jumps to $6,200—and over the same 25-year period, that choice results in $1.398 million in total benefits. That’s nearly $200,000 more than the “default” approach.  Why does this matter so much? Because those additional dollars don’t just boost your lifestyle, they can help protect your surviving spouse, increase your flexibility later in life, and reduce your reliance on investment withdrawals. Every strategy has trade-offs. Waiting requires income from other sources, which means you need a plan in place. But if you can do it, the long-term gain is not just higher monthly income, it’s peace of mind that you’ve made a decision that protects both you and your spouse for life. Brian highlights how the survivor benefit is a critical retirement planning piece that many people overlook. Brian explains how Social Security doesn’t have to be a guessing game and how you can use it to design a retirement plan with confidence. Most people think retirement planning ends when you start withdrawing income from your accounts, but Brian believes that’s actually where the real planning begins. He explains why it’s not just about having enough money. It’s about how that money behaves in retirement, how it stretches, how it responds to market shifts, and how it continues to support you when something unexpected happens. Brian shows how lower income in retirement can sometimes lead to higher effective tax rates—especially when you factor in things like Social Security taxation and Medicare surcharges. Filing status changes everything when one spouse passes away. The surviving spouse becomes a single filer, which means half the standard deduction and compressed tax brackets. Even with a smaller income, they could end up paying significantly more in taxes. Learn how Joe and Jane's provisional income pushed them into the 85% tax zone for Social Security. With IRA withdrawals and benefits combined, their adjusted gross income hit nearly $83,000. After the standard deduction, their taxable income was just under $53,000—enough to land them in the 12% bracket and trigger nearly $6,000 in federal tax. Brian emphasizes why tax planning isn’t optional. You can run all the retirement projections in the world, but if you’re not planning for survivorship and changing tax dynamics, you’re only seeing half the picture. This is where strategies like Roth conversions come in. By converting part of your IRA while both spouses are still alive—and still filing jointly—you can lock in today’s low rates. Later, the surviving spouse benefits from a source of income that’s entirely tax-free. The cost of losing a spouse isn’t just emotional—it’s financial. And it often happens at the exact moment when a household is least equipped to absorb the hit. Without a plan, what should have been a smooth transition can become a financial scramble. One way to fill the gap is life insurance. A properly designed policy can deliver a tax-free lump sum that replaces lost income and offsets new tax liabilities. Brian encourages couples to model survivor income today. Waiting until someone passes away to find out what’s left is a mistake. Knowing what the future looks like allows you to prepare now and avoid painful surprises later. He explains why your retirement plan can’t rely on assumptions. It needs to function even when life doesn’t go as planned. The goal is not just to survive retirement—but to do it with confidence, clarity, and control.     Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com SkrobonjaWealth.com BUILDbanking.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify     Alternative investments may be subject to less regulation than other types of pooled investment vehicles. Alternative Investments may impose significant fees, including incentive fees that are based upon a percentage of the realized and unrealized gains and an individual’s net returns may differ significantly from actual returns. Such fees may offset all or a significant portion of such Alternative Investment’s trading profits. Incorporating alternative investments into a portfolio presents the opportunity for significant losses including in some cases, losses which exceed the principal amount invested. Also, some alternative investments have experienced periods of extreme volatility and in general, are not suitable for all investors. Asset allocation and diversification strategies do not ensure profit or protect against loss in declining markets. ---- BUILD Banking™ is a DBA of Skrobonja Insurance Services, LLC. Benefits and guarantees are based on the claims paying ability of the insurance company. Not FDIC insured. Results may vary. Any descriptions involving life insurance policies and its use as an alternative form of financing or risk management techniques are provided for illustration purposes only, will not apply in all situations, may not be fully indicative of any present or future investments, and may be changed at the discretion of the insurance carrier, General Partner and/or Manager and are not intended to reflect guarantees on securities performance. The term BUILD Banking™, private banking alternatives or specially designed life insurance contracts (SDLIC) are not meant to insinuate that the issuer is creating a real bank for its clients or communicating that life insurance companies are the same as traditional banking institutions. This material is educational in nature and should not be deemed as a solicitation of any specific product or service. BUILD Banking™ is offered by Skrobonja Insurance Services, LLC only and is not offered by Madison Avenue Securities, LLC. nor Skrobonja Wealth Management, LLC. ---- This content is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC are not permitted to offer and no statement made during this presentation shall constitute tax or legal advice. Our firms are not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC.

Are you part of that 68% of people who would like to have a personalized financial plan, but aren’t sure where to find a financial advisor? What should you pay attention to when trying to get a financial planning expert to help you, and you’re evaluating different options? In this new episode of the Common Sense Financial Podcast, host Brian Skrobonja shares six factors you should keep into consideration and look at when going through different financial advisor options. According to a May 2022 PR Newswire survey, 68% of people would like to have a personalized financial plan, but they’re not sure where to find a financial advisor. Brian sees information-gathering and understanding that planning isn’t the same as investing are the biggest mental hurdles of financial planning. When it comes to picking a financial advisor, there are six primary factors Brian suggests looking at. A 2022 study found that 80-90% of advisors fail in the first three years of practice – the main reason being the steep learning curve involved in serving clients. 10 years is the minimum that Brian would look for in terms of experience a financial advisor has. Brian discusses the different designations a financial advisor might have. Brian touches upon the importance of whether a financial advisor owns the company and the range of services they offer.     Mentioned in this episode: BrianSkrobonja.com Dan Sullivan Chat GPT FINRA  The Financial Fiduciary Standard Explained (2021 Kipliger article by Brian)   Reference for this episode: https://www.prnewswire.com/news-releases/nearly-3-in-5-americans-59-want-financial-advice-but-are-not-sure-where-to-get-it-according-to-intelliflo-survey-301494402.html     Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA &SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure.  The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Past performance is no guarantee of future returns. Investing involves risk, including the potential loss of principal. It is not possible to invest in an index. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. This video is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual's situation. Our firm is not permitted to offer and no statement made during this presentation shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm.

You feel healthy so everything is okay, right? Have you ever thought that health planning should be part of your retirement planning efforts? If you’ve answered ‘yes,’ pay close attention to Regan Archibald! Regan joins host Brian Skrobonja to discuss how people should approach health planning, the world of preventive care, the role of nutrition, and why longevity medicine is something you should be mindful of. Regan Archibald kicks off the conversation by sharing his origin story. In his work with entrepreneurs, Regan has found that when people focus on creating more balance and focus on their health, their business improves – and so does everything else. One of the major health issues both Regan and Brian have noticed is that many people think that if they feel okay, everything is okay… Regan stresses the importance not only to focus on a certain problem (like high blood pressure) but on trying to understand its cause (so, asking “Why is my blood pressure high?”). Regan illustrates how longevity medicine and financial planning share some of the same characteristics. “Peptides have been one of the most exciting developments,” says Regan. He explains why that’s the case. Regan believes that people should approach their health insurance the same way they approach their car insurance. What’s a good amount to budget toward health planning? For Regan, the answer to that is $15k/year. For Regan, making your health the #1 priority so that you feel it internally, is an excellent way to get started with health planning. Brian and Regan talk about what working with Regan actually looks like, and discuss diets and how to approach nutrition.     Mentioned in this episode: BrianSkrobonja.com ThePeptideExpert.com Unreasonable Health Podcast The Peptide Blueprint: Achieving Optimal Health and Performance at Any Age Never Stop Healing: The Unknown Shortcuts With Peptides for an Extraordinary Life EastWest Health Dan Sullivan Peter Diamandis Bryan Johnson Charles Schwab Head Strong: The Bulletproof Plan to Activate Untapped Brain Energy to Work Smarter and Think Faster by Dave Asprey Chat GPT   Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, MAS and Regan Archibald are not affiliated entities. NO compensation has been exchanged between Brian Skrobonja and Regan Archibald.   Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered  individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be  rendered by Skrobonja Wealth Management, LLC unless a client service agreement is in  place. Skrobonja Financial Group, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you  away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites. Any references to protection, safety or  lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the  issuing carrier. This is intended for informational purposes only. It is not intended to be used as the sole  basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Our firm is not permitted to offer, and no  statement made on this site shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and  opinions contained here in provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by our firm. Any media logos and/or trademarks contained herein are the property of their respective owners and no endorsement by those owners of Brian Skrobonja is stated or implied. The awards, accolades and appearances are not representative of any one client’s experience and is not indicative of future performance. Each of these awards have set criteria for their nominations and eligibility requirements. “Best Wealth Managers” and “Future 50 Company” are annual surveys conducted by Small Business Monthly. The winner is chosen by an online vote of the general public and no specific criteria is utilized to determine the winner other than number of votes. Some voters may not be clients of Brian Skrobonja and Skrobonja Financial Group. These awards are not representative of any one client’s experience and is not indicative of future performance.

In this milestone 100th episode of the Common Sense Financial Podcast, host Brian Skrobonja delves into the critical topic of managing taxes in retirement. The episode focuses on strategies for minimizing tax liabilities, especially for retirees with tax-deferred accounts facing potential hefty tax bills. Brian emphasizes the importance of sustainable income creation during retirement and the role of tax optimization in this process. Most people envision their retirement to be built from predominantly tax-free income, but after many years of deferring taxes, retirees are facing a sizable tax bill on distributions taken from their retirement accounts that could be a third or more of what has been accumulated. When you’re saving for retirement, growth of your assets is the priority. But many people don’t realize that once they retire that’s no longer true. The priority is actually creating sustainable income to support you through retirement while minimizing taxes. A common issue I’ve seen is future retirees knowing they will owe taxes on their deferred accounts, but not realizing the extent of the problem since the rules change once they retire. Many retirees we work with tend to have the same income goals in retirement, yet with fewer deductions. They no longer have children or mortgage interest to help them offset their tax burdens, which makes the situation more complex. Delaying distributions isn’t an option either. Required Minimum Distributions will eventually force your hand. There are two tax problems facing retirees: taxes you will have to contend with today, and taxes that you will have to contend with in the future. With the national deficit continuing to rise, do you expect tax rates to go down in the future or go up? The most likely answer is that tax rates are on the rise, so we should be planning accordingly. There are two possibilities to help minimize the level at which you participate in paying your fair share towards the government's future revenue increases. You can either complete a Roth conversion or through tax deferred withdrawals contribute to an overfunded permanent life insurance policy. Making the decision of which strategy to implement is the easy part. The trick really is completing this process with minimal tax liabilities, which requires specialized knowledge. The progressive nature of the code makes understanding your tax burden complicated and miscalculating this could result in having a larger tax liability than anticipated. Depending on your income level, a taxable distribution can subject your Social Security to additional taxes. This is a separate calculation from the income tax brackets and uses a two step process to determine how much of your social security will be subject to taxation. This is important to know because a taxable distribution may not only push you into a higher income tax bracket, but it could trigger additional taxes on your social security, which could result in a higher effective rate. You should also be aware of the impact a taxable distribution can have on Medicare premiums. The impact of any possible premium increase is typically delayed by two years. This is one of those things that often comes as a surprise when people make decisions about distributions. The antidote to taxable income is deductions, credits and losses which can help reduce the net income subject to tax. There are a few options that can help offset the burden of taxes and make the transition from tax-deferred to tax-free easier, but they don’t work for everyone, which is why we recommend working with a professional. The first thing is a donor advised fund or DAF. This allows you to contribute future charitable donations into a fund that you control when distributions are made that can also receive the tax benefit of the donation in the year you make the contribution into the fund. By making multiple years of donations in a single year into that fund, you have the potential of helping offset a taxable distribution from your retirement account in that year. The second is a Charitable Remainder Trust (CRT), where you can contribute future charitable donations into the trust and receive the tax benefit of the donation in the year you make the contribution. You can also receive income from the trust while you're living within IRS limits. A CRT is a more complex arrangement than a DAF with many options and requires an attorney to draft the trust. The third is a qualified charitable donation or QCD, which allows for anyone over the age of 70 and a half to make a direct donation from a qualified account to a charity. The fourth is something known as IDCs, or intangible drilling costs, which allows accredited investors to participate in the drilling expenses of an oil and gas company that could provide reportable tax losses that can help offset all forms of income, as well as the potential for cash flow back to the investor once the wells are operational.     Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify Brian's article - From Tax-Deferred to Tax-Free: Navigating Taxes in Retirement   References for this episode: https://www.usdebtclock.org/ https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2024 https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2024 https://www.ssa.gov/benefits/retirement/planner/taxes.html https://www.ssa.gov/benefits/medicare/medicare-premiums.html#anchor5 https://www.irs.gov/charities-non-profits/charitable-organizations/charitable-contribution-deductions https://www.irs.gov/charities-non-profits/charitable-remainder-trusts https://www.irs.gov/newsroom/qualified-charitable-distributions-allow-eligible-ira-owners-up-to-100000-in-tax-free-gifts-to-charity https://www.investopedia.com/terms/i/intangible-drilling-costs.asp https://www.crfb.org/blogs/tax-break-down-intangible-drilling-costs     Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA &SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Investing involves risk, including the potential loss of principal. This is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. A ROTH Conversion is a taxable event. Consult your tax advisor regarding your situation. Investments in securities are subject to investment risk, including possible loss of principal. Prices of securities may fluctuate from time to time and may even become valueless. Gas and oil investments are speculative in nature and are sold by Private Placement Memorandum (PPM). Carefully read the PPM before investing. Certain accreditation requirements may apply. Donor Advised Funds represent an irrevocable gift of assets from the donor to the fund. Contributions made to the fund are irrevocable and cannot be returned or used for any other individual or used for any purpose other than grant making to charities. The gift is not an investment or a security. When evaluating a contribution to the fund, carefully consider the terms and conditions, limitations, charges, and expenses. Depending on the tax filing status, DAF contributions may or may not be tax deductible.

Brian Skrobonja breaks down 11 small business tax tips that could help you keep more of what you earn. He explains how the wealthy leverage these strategies, ways to apply them to your own business, and how being proactive now can save you thousands down the road. Tune in to discover practical steps you can take today to reduce your tax burden, boost your bottom line, and build long-term financial security. Brian starts by revealing how the tax code can be used as a tool to build wealth. According to Brian, the difference between the wealthy and the average American is that the wealthy are more informed about tax-saving strategies. Unfortunately, many business owners treat taxes like a once-a-year nuisance. They write a check and move on.  For Brian, taxes are a bigger expense than rent and payroll--and being informed can mean hundreds of thousands of dollars in your pocket over time. #1 The R&D Tax Credit. Brian explains how this overlooked credit isn’t just for tech businesses in Silicon Valley — if you’re improving a product, process, or even internal software, you might qualify. #2 The Augusta Rule. Brian reveals how you can rent your own home to your business for up to 14 days a year and not pay a dime in taxes on that income. #3 De Minimis Safe Harbor. Brian shares how to write off things like laptops, chairs, and tools right now instead of dragging those deductions out for years. #4 Qualified Business Income Deduction (QBI). Brian highlights how small business owners operating through a pass-through entity like an S-Corp or LLC can deduct up to 20% of their qualified business income. #5 Bonus Depreciation. Brian explains how business owners can immediately deduct a significant percentage of the cost of qualifying property like machinery, vehicles, furniture, and computer equipment, in the year it's placed into service, rather than spreading the deduction over years through traditional depreciation. #6 Intangible Drilling Costs (IDCs). Business owners in oil and gas can deduct up to 100% of certain drilling expenses upfront, regardless of whether the well is productive. #7 Cost Segregation for Real Estate. Brian breaks down how, for commercial property owners, this strategy is a highly effective tool to accelerate depreciation and create early tax savings.  Instead of depreciating an entire building over the standard 39-year life for commercial real estate, a cost segregation study identifies and reclassifies specific building components, such as HVAC systems, that could be depreciated over a five to 15-year period. #8 Market Value Adjustments for Roth Conversion. Brian explains how doing a Roth conversion when asset values are low can lock in long-term tax-free growth, especially if it’s inside a traditional IRA. #9 Build Banking. Brian shares ways to use specially designed whole life policies to create your own private banking system so you can grow wealth tax-deferred and access it tax-free. #10 1031 Like-Kind Exchange. Brian shows how real estate investors can defer capital gains by rolling proceeds into another similar investment without paying taxes. #11 Opportunity Zones. Reinvesting gains into a qualified opportunity fund can help you defer, and possibly erase, capital gains taxes altogether. Brian believes business owners should act fast to take advantage of the tax code. The tax code doesn't reward procrastination. Every day you wait is money left on the table.  Before implementing any of these strategies, always consult your CPA to make sure the structure is appropriate for your business situation.     Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com SkrobonjaWealth.com BUILDbanking.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify     Alternative investments may be subject to less regulation than other types of pooled investment vehicles. Alternative Investments may impose significant fees, including incentive fees that are based upon a percentage of the realized and unrealized gains and an individual’s net returns may differ significantly from actual returns. Such fees may offset all or a significant portion of such Alternative Investment’s trading profits. Incorporating alternative investments into a portfolio presents the opportunity for significant losses including in some cases, losses which exceed the principal amount invested. Also, some alternative investments have experienced periods of extreme volatility and in general, are not suitable for all investors. Asset allocation and diversification strategies do not ensure profit or protect against loss in declining markets. ---- BUILD Banking™ is a DBA of Skrobonja Insurance Services, LLC. Benefits and guarantees are based on the claims paying ability of the insurance company. Not FDIC insured. Results may vary. Any descriptions involving life insurance policies and its use as an alternative form of financing or risk management techniques are provided for illustration purposes only, will not apply in all situations, may not be fully indicative of any present or future investments, and may be changed at the discretion of the insurance carrier, General Partner and/or Manager and are not intended to reflect guarantees on securities performance. The term BUILD Banking™, private banking alternatives or specially designed life insurance contracts (SDLIC) are not meant to insinuate that the issuer is creating a real bank for its clients or communicating that life insurance companies are the same as traditional banking institutions. This material is educational in nature and should not be deemed as a solicitation of any specific product or service. BUILD Banking™ is offered by Skrobonja Insurance Services, LLC only and is not offered by Madison Avenue Securities, LLC. nor Skrobonja Wealth Management, LLC. ---- This content is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC are not permitted to offer and no statement made during this presentation shall constitute tax or legal advice. Our firms are not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Skrobonja Financial Group, LLC, Skrobonja Insurance Services, LLC, Skrobonja Wealth Management, LLC.